Cebu Richest Province 5x in a Row According to COA Annual Financial Report

Jones Ave., Cebu City. Fuente Osmena Circle. // Photo submitted by Nathan Archival

In its 2019 Annual Financial Report for Local Government, according to the Commission on Audit, Cebu is still the wealthiest province in the country with 35B worth of Assets.  As well as Makati remaining the wealthiest city – with total assets worth Php 230 billion in 2018 while Cebu City is the 5th richest city.

The worth of Makati’s assets has increased by Php 34 billion and is credited to the number of roads finished over the past year. Placing second is Quezon City with total assets worth Php 87 billion in 2018. 

Following Quezon City, is Compostela Valley with assets amounting to Php 19.61 billion, and then Batangas with Php 18.18 billion. 

The top richest cities in the Philippines were the following:

• Manila – Php 40 billion
• Pasig City – Php 38 billion
• Cebu City – Php 33 billion
• Taguig City – Php 24 billion
• Caloocan City – Php 18.3 billion
• Pasay City – Php 18.2 billion
• Davao City – Php 16.2 billion
• Calamba City – Php 12.6 billion

Cebu province topped allother provinces in the country again. This is the 5th consecutive time that Cebu has been deemed the richest province in the country, with a total of Php 35 billion worth of assets. This time it’s Php 860 million higher than last year’s Php 34.14 billion. 

Second comes, Compostela Valley with Php 19 billion, then Batangas with Php 18.1 billion, and Rizal with Php 18 billion.

Other 10 richest provinces in the Philippines are:

• Bukidnon – Php 15 billion
• Negros Occidental – Php 14 billion
• Laguna – Php 11.5 billion
• Iloilo – Php 11.4 billion
• Palawan – Php 11.27 billion
• Zambales – Php 11.24 billion 

Here’s the latest annual report by the Comission on Audit for your reference.